Acco Brands Corporation (NYSE:ACCO) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its holdings in Acco Brands Corporation (NYSE:ACCO - Free Report) by 4.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,378,499 shares of the industrial products company's stock after acquiring an additional 257,608 shares during the quarter. Allspring Global Investments Holdings LLC owned 7.08% of Acco Brands worth $27,109,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Acco Brands by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 6,369,804 shares of the industrial products company's stock worth $33,441,000 after buying an additional 106,256 shares in the last quarter. Capital Management Corp VA boosted its holdings in Acco Brands by 1.3% during the fourth quarter. Capital Management Corp VA now owns 3,571,860 shares of the industrial products company's stock worth $18,752,000 after buying an additional 45,765 shares in the last quarter. American Century Companies Inc. boosted its holdings in Acco Brands by 37.4% during the fourth quarter. American Century Companies Inc. now owns 2,067,924 shares of the industrial products company's stock worth $10,857,000 after buying an additional 562,985 shares in the last quarter. Millennium Management LLC boosted its holdings in Acco Brands by 127.8% during the fourth quarter. Millennium Management LLC now owns 1,532,460 shares of the industrial products company's stock worth $8,045,000 after buying an additional 859,787 shares in the last quarter. Finally, Prudential Financial Inc. boosted its holdings in Acco Brands by 3.8% during the fourth quarter. Prudential Financial Inc. now owns 1,199,374 shares of the industrial products company's stock worth $6,297,000 after buying an additional 44,130 shares in the last quarter. Institutional investors and hedge funds own 84.56% of the company's stock.

Acco Brands Price Performance

ACCO traded up $0.08 during midday trading on Friday, hitting $3.99. 424,467 shares of the company traded hands, compared to its average volume of 714,452. The company has a current ratio of 1.76, a quick ratio of 1.02 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $359.50 million, a price-to-earnings ratio of -3.53, a PEG ratio of 0.39 and a beta of 1.35. Acco Brands Corporation has a 52-week low of $3.32 and a 52-week high of $6.44. The business has a 50 day simple moving average of $3.67 and a two-hundred day simple moving average of $4.35.

Acco Brands (NYSE:ACCO - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.02. The firm had revenue of $317.40 million for the quarter, compared to the consensus estimate of $318.75 million. Acco Brands had a negative net margin of 6.68% and a positive return on equity of 15.48%. On average, equities analysts forecast that Acco Brands Corporation will post 1.02 earnings per share for the current fiscal year.

Acco Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Friday, May 23rd were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 7.52%. The ex-dividend date of this dividend was Friday, May 23rd. Acco Brands's dividend payout ratio is currently -26.55%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Wall Street Zen raised shares of Acco Brands from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Barrington Research lowered their price target on shares of Acco Brands from $7.00 to $6.00 and set an "outperform" rating on the stock in a report on Friday, May 23rd.

Acco Brands Profile

ACCO Brands Corporation designs, manufactures, and markets consumer, school, technology, and office products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company provides computer and gaming accessories, planners, dry erase boards, school notebooks, and janitorial supplies; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; sheet protectors and indexes; laminating, binding, and shredding machines; writing instruments and art products; stapling and punching products; and do-it-yourself tools.